**Executive Summary**
This notification from the Department of Economic Affairs, Ministry of Finance, Government of India, dated 5th February, 2026, empanels firms as Transaction Advisers (TAs) for Public Private Partnership (PPP) Projects. The empanelment is for a period of two years, extendable by one year. The notification includes a list of empanelled firms, split into Panel A and Panel B, along with their contact information.
**Key Points / Main Content**
* **Empanelment of Transaction Advisers (TAs):**
* The Department of Economic Affairs has empanelled firms as TAs for PPP Projects.
* The empanelment period is for two years, extendable by one year.
* **Panels:**
* Empanelled firms are listed in Panel A and Panel B.
* Each panel lists the name of the empanelled firm, address, contact person, email ID, and contact number.
* **Panel Selection Guidelines:**
* Panel A may be considered for PPP projects with an estimated Total Project Cost exceeding Rs. 250 crores.
* Panel B may be considered for PPP projects with an estimated Total Project Cost up to Rs. 250 crores.
* **Rights Reserved:**
* The DEA reserves the right to withdraw, amend, or suspend this Notification without prior intimation or recourse liability.
* **Effective Date:**
* This notification is effective from 5th February, 2026.
* **Availability**
* These Panels of TAs are available to all Project Sponsoring Authorities including Central, State, Local Bodies and their agencies, etc. undertaking PPP projects.
**Impact Analysis**
**Project Sponsoring Authorities (Central, State, Local Bodies):**
* **Impact:** Can select from the empanelled TAs for PPP projects.
* **Action Required:** To review the empanelled firms and their contact information. Select a TA from the panel for planned PPP projects, in line with total project costs.
**Empanelled Firms (Panel A and Panel B):**
* **Impact:** May be engaged as TAs for PPP projects.
* **Action Required:** No immediate action. Expect communication from project-sponsoring authorities to be engaged on applicable PPP projects.
Key Entities Referenced
Public Private Partnership (PPP) Projects: Refers to projects undertaken jointly by the government and private sector entities.
Transaction Advisers (TAs): Firms empaneled by the Department of Economic Affairs to provide advisory services for PPP projects.
Department of Economic Affairs: The department within the Ministry of Finance responsible for empaneling Transaction Advisers for PPP projects.
Ministry of Finance: The ministry overseeing the Department of Economic Affairs, which manages the empanelment of transaction advisors.
No. 2/3/2021 - PPP
Government of India
Ministry of Finance
Department of Economic Affairs
Infrastructure Finance Secretariat
Dated: 5 February, 2026
NOTIFICATION
Subject: Empaneled Transaction Adviser for Public Private Partnership Projects
The Department of Economic Affairs, Ministry of Finance, Government of India empanels the
following firms as Transaction Advisers (TAs), for Public Private Partnership (PPP) Projects
for a period of two years (extendable by 1 years) from the date of this notification.
Panel-A
S. No Name of Address Contact Email ID and Contact No.
Empaneled Firm Person
(i) \Almondz Global — |F-33/3, OkhlaiMr. Sankha|Sankha.dasqupta@almondz.com
Securities Ltd. Industrial Area,Dasgupta (9599073813
Phase-ll, New
Delhi-110020
(ii) \a’XY¥Kno Capital |Level 3, LeelaiMs. Meghajtenders@axykno.com
Services Pvt. Ltd. Vista Building, /Thakar 9766698408
WHC Road,
Bajajnagar,
Nagpur — 440 010
(iii) (CBRE South Asia |7" Floor, DLF\|Mr. Aarohanjaarohan.mediratta@cbre.co in
Limited Square, M-BlockiMediratta 9899486758
Jacaranda Marg,
DLF City Phase II
Gurgaon 122022
(iv) |Crisil Limited Lightbridge ITIMr. Yardly|tenders@crisil.com
Park, Saki Vihar/Thomas 022-6137-3000
Road, Andheri
East, Mumbai 400
072
(v) |Cushman & C-401, 4th Floor,|Mr. Khurshed.gandhi@cushwake.com
Wakefield India |One BKC BandrajKhurshed (9930312326
Pvt Ltd Kurla Complex, Gi|Gandhi
Block, Bandra
East, Mumbai,
Maharashtra
400051, India
(vi) Delhi Integrated (8th Floor, Block 1,|Mr. Ashvini/Bbbd@DIMTS IN
Multi-Modal Delhi Technology|/Parashar
Transit System LtdjPark, Shastri 9873693024
Park, Delhi
110053
(vi) |Deloitte 7th Floor, BuildingiMr. Kushal|kksingh@deloitte.com
10, Tower B, DLF/Kumar 9811552899
Cyber City|SinghComplex, DLF
City Phase-ll,
Gurgaon -
122002, Haryana,
India
(viii) Ernst & Young 3rd & 6th Floor, Mr. Satyamsatyam.sundaram@in.ey.com
Worldmark |, IGIShivam 9953018003
Airport HospitalitySundaram
District, Aerocity,
New Delhi -
110037, India
(ix) Feedback Infra 351, Udyog ViharMr. Anilanil.b(@feedbackinfra.com
Phase -2, SectorKumar B
20 Gurugram, 9953299613
Haryana 122016
(x) Forvis Mazars 51-52, Phase IV, Mr. SumitSumit.singhal@mazars.co.in
Udyog Vihar,Singhal 89106 66478
Gurugram-
122016, Haryana
(xi) Grant Thorton 5!" Floor, 65/2,
Bharat Block A,
Bagmane
Ms. PadmaBd.psc@in.gt.com
Priya J 8042430700
__ Tridib,
Bagmane Tech
Park, CV Raman
Nagar,
Bengaluru-
560093
(xii) KPMG 4th Floor, Tower -Mr. VivekVvivekagarwal1@kpmg.com
B&C, DLF CyberAgarwal 9811705760
City, Phase Il,
Gurugram-
122002, Haryana
India
(xiii) IPE Global Limited B — 84, DefenceMr. Anilakbansal@ipeglobal.com
Colony, NewKumar 9818998144
Delhi - 110024 Bansal
Jones Lang Level 12, DLFMr. Simonsimon.thomas@)ll.com
LaSalle Property Cyber Park, Selvaraj 9840068451
Consultants Phase Ill, Udyog
(xiv) Vihar, Sector 20,
Gurugram
Haryana -
122008, India
Knight Frank India 1505 — 1508, 15th
Floor, Tower
(xv)
Mr. RajeevRajeev.Vijay@in.knightfrank.com
— ‘B’,Vijay 9717716585
Signature Towers,
South City 1,
Gurugram
122001, Haryana,
India
ILF Consulting 405, LandmarkMr. Balendu.singh@ilf.com
Engineers India Building. , NewShailendra 022-62369024
(xvi)
Link Road,Yadav
Andheri (West),Mumbai — 400
053, India.
Nangia & Co 2 Floor, B-27/Mr. Asgarjasgar.nagqvi@nangia-
(xvii) Soami Nagar, |Naqvi andersen.com
New Delhi - 9873604008
110017
PwC 2TM and 3% floor,|Mr. Nidishlnidish.nair@owc.com
Block-4, DLFiNair 9818064239
Downtown
Commercial Site,
(xviii) Block-V, Phase-3,
Sector 25A
Gurugram-
122002 Haryana,
India
Primus Partners |Flat No. UGF 1/Ms. Aartijaarti@primuspartners.in
UGF 3 to /7,/Harbhajank |011-43783370
Tolstoy House,|a
(xix) Tolstoy Marg,
Connaught Place
New Delhi -
110001
RITES Limited “Shikhar’, Plot No|Mr. Animeshlanimesh .lodiya@rites.com
1, Sector 29,/Lodiya 9654176514
Om) Gurugram,
Haryana
SBI Capital 73, Ground Floor,|Mr. VivekiVivek.khurana@sbicaps.com
.. (Markets Navjeevan Vihar,|Khurana 9717888047
(xxi) N .
ew Delhi -
110017
Tandon Urban 701, Harbhaajan|Mr. Amititandonandassociates@qmail.com
Solutions Pvt Ltd |Building, Kalina, |Rajnhans 9867687797
(xxii) Santacruz (E),
Mumbai — 400
098
Panel- B
iDeck 9/7, KCN Bhavan,|Ms. Sumithalod@ideck.in
(Infrastructure Yamunabai Road,/V Rao 8043448000
Development Madhavnagar
(xxiii) (Corporation Extension, Offi
(Karnataka) Ltd.) [Race Course
Road, Bangalore-
560001
Resurgent India /903-906, 9" floor,Mr. Varun|varun.talwar@resurgentindia. com
Tower-C, Talwar 9818088338
Business Zone,
; Nirvana Country,
ORV) Sector-50,
Gurgaon,
Haryana -
122018
Spine Advisory 401, D-21,|Mr. Sanjeetiinfo@spineadvisory.com
(xxv) Corporate Park,|Kumar 9582823586
Sector-21,Dwarka, New
Delhi-110077
Darashaw 1205-06, RegentiMr. Ketaniconsultancy@darashaw.com
Chambers, 12"/Mandani 9819466876
Floor,
(xxvi)
208, Nariman
Point,
Mumbai 400021
InfraEn (India) 18 Floor, RahejaiMr. Jayaramlinfo@infraen.com
Chambers, Poojary 8095599001
Museum _ Road,
(Xxvii)
Bengaluru,
Karnataka,
560001
Mehta and 101, 1% FloorMr. Hitendraimehtaandassociatesindia@gma
Associates Navneet Plaza,/Mehta il.com
(xxviii) 5/2, Old Palasia 7312561124
Indore-452001
Madhya Pradesh
2. These Panels of TAs are available to all Project Sponsoring Authorities including Central,
State, Local Bodies and their agencies, etc. undertaking PPP projects.
3. Indicatively, Panel A may be considered for PPP projects with an estimated Total Project
Cost exceeding Rs. 250 crores, while Panel B may be considered for PPP projects with an
estimated Total Project Cost up to Rs. 250 crores, as appropriate.
4. The DEA reserves the right to withdraw, amend or suspend this Notification without any
prior intimation and recourse liability.
5. This notification has come into force from 5" February, 2026.
For information of all